Anil Dhirubhai Ambani Group company Reliance Capital, a major financial services provider, has finally secured an approval from the National Housing Bank (NHB) for setting up a housing finance company.
It may be noted that, Reliance Capital is already into the mortgage business through its wholly-owned consumer finance arm Reliance Consumer Finance.
Swiss banking major Credit Suisse has revealed that it has invested Rs 794 crore in its non-banking finance company (NBFC) named Credit Suisse Finance India.
According to sources, the company has pumped the said amount in order to fund the operations of its Indian non-banking finance company (NBFC) in India. With the fresh funds, the total capital of Credit Suisse Finance (India) now stands at Rs 827 crore.
New York, Jan 5 : Duped employees and clients of fraud American financer Bernard Madoff are selling off the `Madoff memorabilia' on the Internet, with a view to recovering their losses.
More than 100 items bearing the name or symbol of Bernard L. Madoff Investment Securities, given as a token of appreciation to the employees and clients, have been put on sale on eBay.
`Emom1013' is selling a pair of 20 dollars T-shirts given out at the 2006 company picnic at the Madoff family''s Long Island estate.
"The proceeds from this auction go directly to a family whose husband/father is facing being out of a job and health insurance thanks to good old Bernie," the New York Post quoted the seller as writing on the website.
Washington - The world's largest grouping of financial institutions expects the global economy to contract in 2009 as the effects of a massive financial crisis spread from wealthy nations to developing countries.
The Institute of International Finance predicted a 0.4-per-cent decline in growth next year, an even more pessimistic forecast than other global financial institutions, according to an economic outlook released Thursday.
India may have a new Finance Minister in a couple of days as Prime Minister Dr. Manmohan Singh intends to have a full time minister for this critical portfolio.
He has reportedly apprised the Congress president and UPA chairperson, Sonia Gandhi about his work load and intentions. He is already extremely busy and a full time finance minister is indispensable to face the opposition in the Parliament amid global slowdown.
New York - Citigroup chief executive Vikram Pandit on Friday denied reports that the finance giant was considering selling off large parts of its business.
Speaking in an internal conference call after the Wall Street Journal and others had reported on a possible breakup, Pandit said the firm had enough capital and that there were no plans to sell units, including the Smith Barney brokerage unit, Bloomberg financial news reported citing unnamed sources who listed to the call.
Anil Dhirubhai Ambani Group company Reliance Capital, a major financial services provider, has finally secured an approval from the National Housing Bank (NHB) for setting up a housing finance company. 
Swiss banking major Credit Suisse has revealed that it has invested Rs 794 crore in its non-banking finance company (NBFC) named Credit Suisse Finance India. 
Washington - The world's largest grouping of financial institutions expects the global economy to contract in 2009 as the effects of a massive financial crisis spread from wealthy nations to developing countries.
India may have a new Finance Minister in a couple of days as Prime Minister Dr. Manmohan Singh intends to have a full time minister for this critical portfolio. 
